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BNY Mellon revamps loan administration service for hedge fund clients

BNY Mellon has enhanced its loan administration functionality to offer hedge funds and fund of hedge fund clients an automated solution with increased transparency.

The new service integrates the firm’s alternative investment services and corporate trust business and will provide an end-to-end administrative solution from pre-settlement to post-settlement services.

The combined functionality will allow clients to have access to straight through processing for trade instructions, security master creation, cash flows and loan specific information, gaining transparency of their syndicated loan portfolio.

BNY Mellon CEO of Alternative and Broker-Dealer Services Brian Ruane said that they can now offer their hedge funds and fund of hedge funds clients an enhanced loan service as part of their suite of administration products.

"By working closely with our corporate trust business, we have been able to develop a best of breed offering which addresses the specific needs of our clients allocating to fixed income," added Ruane.